The company said, “Full-year production is expected to be 2.295 to 2.325 MMBOED. This reflects a 20 MBOED annual adjustment for Qatar, given the exclusion of Qatar production from second-quarter guidance, as well as a 15 MBOED annual royalty rate adjustment at Surmont due to higher oil prices. Capital spending for 2026 is expected to be $12 to $12.5 billion, including incremental Permian activity. The range reflects uncertainty around the macro environment and North Field East and North Field South capital timing in Qatar.”
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